The department of telecom (DoT) on Friday challenged the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order allowing Reliance Communications (RCom) to sell spectrum to Reliance Jio without providing the bank guarantee.

The TDSAT in its order dated October 11, 2018, rejected plea of the DoT seeking bank guarantee of around Rs 2,900 crore before it permits sale of RCom spectrum to Reliance Jio.

RCom signed an agreement with Mukesh Ambani-owned Reliance Jio Infocomm Ltd to sell spectrum and other telecom assets for an estimated Rs 25,000 crore and clear its debt of about Rs 46,000 crore partially.

However, the spectrum sale deal is stuck for clearance from the DoT for want of bank guarantee.

RCom in August completed the sale of its fibre assets and related infrastructure assets, worth Rs 3,000 crore, to Reliance Jio.

(With inputs from PTI)

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First Published:Nov 2, 2018 7:52 PM IST